Climate activists reacted with equal measures of anger and despair Sunday at the news oil giant Saudi Aramco achieved record profits totalling $161.1 billion last year as global demand for fossil fuels shows no sign of abating anytime soon.

AFP reports the mostly state-owned oil supplier, the world’s second most valuable company behind Apple, said in a filing with the Saudi stock market net income for 2022 was up 46 percent from $110 billion in 2021.

The results — the strongest since Aramco, also known as the Saudi Arabian Oil Co., became a listed company in 2019 — were “predominantly due to the impact of higher crude oil prices and volumes sold, and stronger refining margins,” it said.

[Climate-istas and American wallets most affected. Way to go, Brandon. ~ Beege]